The Morning Jumpstart


  • SPI200 (Mar) overnight futures up 9 pts to 6189
  • SP500 down 3.16 pts to 2789.65
  • NASDAQ down 1.21 pts to 7576.36
  • Dow Jones down 13.02 pts to 25,806.63
  • FTSE100 up 49.04 pts to 7183.43
  • DAX30 up 28.08 pts to 11,620.74
  • GOLD futures US Session (April) up $1.10 to $1288.60 an ounce
  • COPPER futures US Session (Comex May) up $0.0290 to $2.9380 a pound
  • OIL futures US Session (Nymex April) down $0.04 to $56.55 a barrel
  • CRB Index up 0.80 points to 181.90
  • AUDUSD trading at 0.7087
  • EURUSD trading at 1.1308
  • GBPUSD trading at 1.3178
  • USDJPY trading at 111.8800

The US managed to grind out some gains from the open after finding support from economic data only to give back into the close to end flat. Traders are now looking for alternate catalysts other than developments on trade between the US and China. Data released overnight showed a $9B surplus although below expectations as China cut their growth expectations. The market managed to hold up well which may show that traders are expecting a trade deal to be beneficial. The DOW closed down 0.05% while the broader SP500 was also down 0.11% along with the Nasdaq which closed down 0.02%. In Europe, major indexes moved between gains and losses but managed to finish up in positive territory.

The USD ended the session higher being supported by the positive data on Federal Budget along with new home sales and non-manufacturing data. The EUR was holding its ground during the European session but then fell away at the start of the US as the dollar gained. The AUD weakened after the US data release and moved back down to support but then managed to recover well to make back the lost ground. The GBP also did well to make back any lost ground after the US data release to finish around the same levels as the previous US close. The Pound is finding increased volatility on Brexit headlines after news came out that not many Labour MPs will back PM May’s Brexit deal. The USDJPY gained as data released gave the bulls some comfort in the economy.

Gold was caught in a choppy session as bargain hunters edged in to the action after the previous few days sell off but were contained by a rising USD. Prices fell after the US data release to take out recent lows but then managed to rally into the close potentially as some sellers locked in some gains. Oil saw some choppy action as price bounced through European trade only to find selling pressure on the USD rally ahead of oil inventories out tonight. Copper held up well under the USD pressure as traders continue to await an outcome on a trade deal.

Cryptocurrencies had a good session overnight to make back some of the previous losses as Bitcoin currently trades at $3854.2 up 3.42%. Ethereum is trading at $136.57 up 7.92% while Ripple is at $0.31494 up 3.67%.

The ASX200 started the session on the back foot taking a lead from overnight markets and struggled to rally into the close to make back some of the losses even as Chinese markets bounced from morning losses. The index finished down 18.1 points to 6199.3 at the close with Information and Tech and Consumer Discretionary sectors leading the charge lower. The financial sector was lower although the big four ended generally higher. Falling stocks outnumbered advancing ones by 696 to 450 and 333 ended unchanged.

The ASX200 is expected to open up 10 points after the SPI200 pushed up into previous highs through a positive overnight session.



AUD RBA Gov Lowe Speaks 9:10am

AUD GDP Data 11:30am

GBP MPC Member Cunliffe Speaks 11:15pm

USD ADP Non-farm Employment Change 12:15am

CAD Trade Balance 12:30am

USD Trade Balance 12:30am

CAD BOC Rate Statement and Overnight Rate 2am

USD Crude Oil Inventories 2:30am

USD Beige Book 6am